Kathleen Madonia

The meeting commenced with the approval of the minutes from the September 3, 2025, commission meeting. A significant portion of the discussion involved an overview of national Bank On updates and the Bank On Illinois Annual Report for 2024/25. Key statistics regarding certified accounts, deposits, and Illinois' national ranking were presented. Future strategic focus was outlined to include integration with social-service agencies, transportation agencies, local governments, and school districts, with an emphasis on expanding outreach into central and southern Illinois ZIP codes that show deficiencies in account openings. Subcommittee updates covered the certification of new financial products, a financial empowerment meeting with the Chicago Urban League, continued focus on out-of-state lenders and buy-now, pay-later initiatives, and adjustments to outreach efforts due to immigration concerns, including recent financial empowerment classes held in Pilsen and South Chicago. A newly appointed Assistant Comptroller in the Chicago Office was formally introduced.

The meeting included a review of committee reports. The Finance Committee reconciled the bank statement for December. All other listed committees (Training, Marketing, Federation, Campaign, Chicago, Technology/Special Events) did not meet. Key action items include the confirmation that all agency audits have been sent, and the requirement for all committees to meet in February to finalize budget and ideas for the next campaign. The budget is due to Sara by March 4th in preparation for the next SECA Advisory Board meeting on March 18th.

The content is a transcript of remarks given by Comptroller Mendoza as the keynote speaker at the BEA of Chicago's Founders Day event. The speaker discussed her background as the daughter of Mexican immigrants and her commitment to public service. Key achievements highlighted include her work as the first woman elected City Clerk of Chicago, where she eliminated the archaic, long-wait system for city stickers and generated $15 million in new revenue. As State Controller, she initiated a transparency revolution, managed a $16.7 billion backlog of unpaid bills stemming from a 736-day budget impasse, prioritized Medicaid payments to secure federal matching funds, and successfully passed the Debt Transparency Act, overriding a gubernatorial veto. Additionally, she implemented financial tools like a bond deal that refinanced $6 billion of debt and secured legislation allowing prepayment of pensions, which generated an estimated $41 million in interest earnings.

The meeting covered committee reports, specifically the Finance Committee, which met to reconcile the October bank statement and review budget amounts and transactions for that month. Other committees, including Training, Marketing, Federation, Campaign, Chicago, and Technology/Special Events, did not meet.

The meeting included committee reports. The Finance Committee reported that they met and reconciled the bank statement for November. The Training, Marketing, Federation, Campaign, Chicago, and Technology/Special Events Committees did not meet.